21.12.2012 - Politics, laws weigh on Islamic finance in India
India's tiny Islamic finance industry is hoping to expand by developing products that would work around the country's ban on sharia-compliant banking. But political and legal obstacles mean progress is likely to be slow. An estimated 177 million Muslims in India, the largest Muslim minority population in the world, are unable to use Islamic banks because laws covering the sector require banking to be based on interest, which is forbidden in Islam...............................................Full Article: Source
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